Debts Recovery Tribunals and Appellate Tribunals
JAMMU AND KASHMIR BANK LIMITED vs M/S KASHIND AGRO INFRA on 4 July 2026
IN THE DEBTS RECOVERY TRIBUNAL-I, CHANDIGARH
BEFORE: A S NARANG, PRESIDING OFFICER
TA No: 70/2023
Date of Institution: 06.10.2018
Date of Decision: 04.07.2026
Jammu and Kashmir Bank Limited having its Business Unit at Rangreth, Budgam, Kashmir.
……..Applicant
Vs.
1. M/s KashInd Agro Infra Servants Century Ply Building (Opposite Jamkash Vehicleads) National Highway/Bypass, Hyderpora, Srinagar, Kashmir, through its partners, the defendant Nos.2 to 4.
2. Nirbhay Trehan s/o Pyare Lal Saraf, r/o 31-D/C, Green belt Park, Gandhi Nagar, Jammu.
3. Nirbhik Trehan s/o Nirbhay Trehan, r/o 31-D/C, Green belt Park, Gandhi Nagar, Jammu.
4. Muizz Khan s/o Farooq Ahmed Khan, r/o Brein Nishat, Srinagar Kmr, H.No.10-A, Khan Enclave Mian Road, Bhatandi, Jammu.
5. Ghulam Mohi-ud-din Wani s/o Sona-ullah Wani, r/o Chinad Khushalpora, Sangarma, Batamulla.
6. Farooq Ahmad Shah s/o Gh. Rasool Shah r/o Rathpora Eidgah, Srinagar, Kashmir.
……….Defendants
Advocates
Sh. Gaurav Thakur, Counsel for the applicant bank.
Defendants-ex parte vide order dated 27.03.2025.
TA for the Recovery of ₹5,63,62,244.85p with interest @16.75% per annum with monthly rests from 06.10.2018.
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ORDER
1. On 06.10.2018, Jammu and Kashmir Bank Limited, filed the suit for the recovery of ₹5,63,62,244.85p with interest against M/s KashInd Agro Infra Servants (defendants) in the Court of Principal District Judge, Srinagar. However, vide order dated 07.02.2023, this suit was transferred by the Court of Additional District Judge, (Bank Cases), Srinagar, to DRT-I, Chandigarh.
2. Bank’s case is that on 11.07.2014, it had granted a loan of ₹350.00Lacs to defendant No.1 through its partners defendant Nos.2 to 4 in the form of S.O.D. Limit for business purpose. To secure the loan, Defendant No.5 had mortgaged his land (fully detailed in para No.5 of the application). Defendant Nos.5 and 6 stood as guarantors. Again on 30.06.2016, at the request of the defendants, bank granted a loan of ₹80.00 Lacs in the form of Clean Overdraft Limit to defendant No.1 through its partners defendant Nos. 2 to 4 for business purpose. Both the loan facilities were chargeable at different rates of interest. On 01.10.2018, a sum of ₹5,63,62,244.85p was due from the defendants. Despite repeated requests, defendants did not make the repayment. Hence, the suit.
3. The Civil Court sent summons to the defendants by registered post, which was duly served. After transfer, the defendants were sent summonses but they did not put in appearance and were proceeded ex parte on 27.03.2025.
4. In order to prove its case, the Bank has placed on record the affidavit of Mr. Shoiab Ramzan Rather, Executive Law, along with the original loan and security documents.
5. I have perused the evidence on the record. I am of the considered view that the Bank has proved its case that it had advanced total loan of ₹430.00 Lacs and on 01.10.2018, a sum of ₹5,63,62,244.85p (₹5,00,33,878.40p in the S.O.D. Limit and ₹63,28,366.45p in the Clean O.D. Limit) was due.
6. Accordingly, the case of the bank for the recovery of ₹5,63,62,244.85p (Rupees Five Crores Sixty Three Lacs Sixty Two Thousand Two Hundred Forty Four and Paise Eighty Five Only) with interest @16.75% per annum with monthly rests from 06.10.2018, till the date of payment is hereby allowed with costs. The liability of defendant Nos.1 to 6 would be joint and several in S.O.D. Limit and the liability of defendant Nos.1 to 4 would be joint and several for the amount due in Clean O.D. Limit. Bank can recover its dues by the sale of mortgaged land fully detailed in para No.5 of the application as well as from the personal movable and immovable property(ies) of the defendants accordingly.
7. Pending IAs, if any, stand disposed of.
8. Recovery Certificate be issued accordingly.
9. Parties are directed to appear before Recovery Officer on 05.08.2026, who is directed to distribute the sale proceeds of the mortgage land and hypothecated assets as per the provisions of Section 19(20-AB) of the Act.
10. A Copy of this order along with Recovery Certificate be sent to the Recovery Officer as well as the parties.
Pronounced in the open court.
(A S Narang) Dated: 04.07.2026 Presiding Officer DRT-1, Chandigarh MANOJ KALRA